Global stocks recorded gains on Friday last week to close the month mostly in gains. Corporate earnings in the US and Europe drove equities higher, with the Nasdaq recording its fourth week in gains. Shares of electric automaker Tesla recorded a record 33% rise in the week, following an 11% gain on Friday, to mark its best weekly performance since May 2013.
This week will be an eventful one, with big tech earnings, the U.S. labor market, and FOMC’s policy meeting taking center stage. We can expect earnings from some of the largest companies in the world, including big tech firms Apple, Google, Amazon, and Meta Platforms. ExxonMobil, Pfizer, UPS, McDonald’s, Caterpillar, Starbucks, and automakers Ford and General Motors will also report next week, among many others.
The latest reports on the labor market will also arrive this week, including the December JOLTS report, ADP’s National Employment Report tracking private sector payrolls, and the January nonfarm payrolls report. The Federal Open Market Committee (FOMC) will gather for its first policy meeting of 2023, where it is widely expected to raise interest rates by 25 basis points. We will also receive the latest updates on home prices, with the Case-Shiller National Home Price Index for November, as well as PMI readings from the Institute for Supply Management (ISM).
Below are events expected to move markets this week.
